Empire State Development Announces $700,000 Investment in Yuvo Health

January 19, 2022

Investment Provided by New York Ventures 

Empire State Development (ESD) today announced a $700,000 investment in Yuvo Health, a leading technology-enabled administrative and managed-care solution for community health centers. The company was launched in early 2021 and provides administrative and managed-care contracting services to Federally Qualified Health Centers (FQHCs) in the greater New York area and other key markets, nationwide.  A total of $7.3 million in funding was raised to date, led by early-stage venture fund AlleyCorp, and with participation from institutional investors including AV8 Ventures and Brooklyn Bridge Ventures. The $700,000 investment comes from the New York State Innovation Venture Capital Fund (NYSIVCF).  

Empire State Development Acting Commissioner and President and CEO-designate Hope Knight said, “Through NY Ventures, ESD is constantly looking to invest in innovative New York State companies that work to enhance our quality of life and for this reason, we are excited to partner with Yuvo Health. By providing administrative and managed-care contracting services for Federally Qualified Health Centers, these FQHCs can continue to focus on what is most important – the health outcomes of our most underserved communities.” 

“We are delighted on many levels to announce this seed investment, but especially because it validates the critical role that FQHCs play in low-income communities, empowering us to offer increased support and access to care where it’s needed most,” said Cesar Herrera, CEO and co-founder of Yuvo Health, who will be hosting informational webinars for FQHCs throughout January. “It's incredibly exciting to partner with industry leaders such as New York Ventures who are highlighting the importance of health equity and access for all New Yorkers.” 

Heightened by COVID, there are now more than 7 million New York residents enrolled in Medicaid, up from 6 million pre-pandemic and New York State’s FQHCs play a critical role in supporting this growing population along with those who are uninsured. FQHCs time and again show better clinical and cost outcomes than their private practice peers, and according to the National Association of Community Health Centers, they see a 98% customer satisfaction rate.  

About Yuvo Health: 

Founded in New York City, Yuvo Health launched in January 2021 by a fully BIPOC founding team that has seen firsthand the power of quality care for underserved communities. The innovative startup is an industry-leading solution for providing administrative and managed-care contracting services to Federally Qualified Health Centers (FQHCs). Institutional investors include AlleyCorp, AV8 Ventures, New York Ventures, and Brooklyn Bridge Ventures, and angel investors such as Melynda Barnes, Ro’s Chief Medical Officer.With Yuvo, our nation's FQHCs gain the peace of mind to focus on what they do best: provide quality care to communities in need. Our FQHC partners are able to unlock revenue streams via value-based care without the daunting investment and operating burden. Currently serving the downstate New York market, the company plans to expand across New York, the Midwest, and the Mid-Atlantic regions. To learn more about the company, visit yuvohealth.com, email [email protected], and follow them on LinkedIn

About New York Ventures 

New York Ventures is the venture capital investment arm of Empire State Development, New York State’s chief economic development agency. New York Ventures meets the critical capital needs of the state’s innovation economy by providing funding to high-growth startups as they move from concept to commercialization, through early growth and expansion. More information about the fund is available here.  

About Empire State Development 

Empire State Development (ESD) is New York’s chief economic development agency. The mission of ESD is to promote a vigorous and growing economy, encourage the creation of new job and economic opportunities, increase revenues to the State and its municipalities, and achieve stable and diversified local economies. Through the use of loans, grants, tax credits and other forms of financial assistance, ESD strives to enhance private business investment and growth to spur job creation and support prosperous communities across New York State. ESD is also the primary administrative agency overseeing the State’s Regional Economic Development Councils and the marketing of "I LOVE NY," the State’s iconic tourism brand. For more information on Regional Councils and Empire State Development, please visit www.regionalcouncils.ny.gov and www.esd.ny.gov

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